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Tankan survey beats expectations as Abe readies tax hike

  • Japan Tankan large manufacturing index: 12 versus 7 expected and 4 in the quarter through June.
  • The print was the highest reading since December of 2007.
  • This is welcome news for Prime Minister Shinzo Abe as he prepares to raise the sales tax to 8% from 5% — upbeat economic news reinforces the idea that the Japanese economy can withstand the tax hike.
  • Japan August household spending: -1.6% versus +0.1% expected.
  • Nikkei +1%, yen -0.39% to ¥98.59.
  • ETFs: EWJ, NKY, EWV, EZJ, ITF, JSC, JPP, DXJ, SCJ, DFJ, FJP, JPNL, JPNS, DXJS, JGBT, JGBL, JGBS, JGBD
Comments (1)
  • keentolearn
    , contributor
    Comments (129) | Send Message
     
    How long they could manage to bring prosperity by printing money? The national debt already crossed $10 trillion mark.
    1 Oct 2013, 12:19 AM Reply Like
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